Basically? There isn't one. They don't really do anything very well, especially considering their hefty cost, and they synergise somewhere between poorly and not at all with the basic weapons of the units that can take them. Even within the Skitarii book if you want snipers you're better off with Dragoons using Radium Jezzails and, as you pointed out, Arc Rifles handily outperform the Arquebus in almost all other circumstances for less points.
About the only thing I can say about the thing is at least it takes some degree of advantage of the Skitarii having Relentless, not that that makes it any less useless as an option.